Brenntag enters the market in Israel with the acquisition of specialty chemicals expert Y.S. Ashkenazi Agencies
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Dear all,
Please find attached the press release of Brenntag on the acquisition of Y.S. Ashkenazi Agencies in Israel.
If you have any questions, please do not hesitate to contact us.
Best regards,
Verena Blaschke
Essen, March 3, 2022
Brenntag enters the market in Israel with the acquisition of specialty chemicals expert Y.S. Ashkenazi Agencies
Brenntag (ISIN DE000A1DAHH0), the global market leader in chemicals and ingredients distribution, has acquired the Israeli specialty chemicals distributor Y.S. Ashkenazi Agencies Ltd, along with its subsidiary, Biochem Trading. This acquisition represents Brenntag’s entry into the Israeli market. Signing and closing of the acquisition occurred simultaneously.
Henri Nejade, Member of the Management Board of Brenntag SE and Chief Operating Officer Brenntag Specialties: “The acquisition of Y.S. Ashkenazi Agencies is an excellent opportunity for us to gain a foothold in the highly developed and innovative market in Israel. With this local presence, which is vital for our business, we can further expand our specialty products and services to suppliers and customers in the fast-growing Food & Nutrition and Personal Care markets in the region. We also see opportunities to expand our value proposition with global key accounts that operate in these markets.”
“We are proud to join Brenntag, the world’s leading specialty chemical distributor,” comments Yosi Cohen, CEO and President of Y.S. Ashkenazi Agencies. “This is a natural step for Ashkenazi as a top distributor of specialty chemicals in Israel to continue its growth with Brenntag Group.“
Y.S. Ashkenazi Agencies is one of the largest specialty chemical distributors in Israel and is located at Kibbutz Netzer Sereni, in close proximity to Ashod Harbor and Tel Aviv airport. Its extensive portfolio includes more than 500 specialty products, as well as value-added services and technical support.
Anthony Gerace, Senior Vice President M&A Brenntag Group: “The acquisition of Y.S. Ashkenazi Agencies is perfectly in line with our M&A strategy in the region. Y.S. Ashkenazi Agencies is the market leader in Israel in the important markets of Personal Care and Food & Nutrition. Its comprehensive product portfolio, large customer base and reputation for quality provide an excellent opportunity for us to leverage this new platform in the region.”
The acquired businesses generated sales of approximately 39 million EUR in the 2021 financial year.
About Brenntag:
Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,000 employees worldwide and operates a network of more than 670 sites in 77 countries. In 2020, Brenntag generated sales of around 11.8 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares are listed at the Frankfurt Stock Exchange and are included in the MDAX and DAX 50 ESG. For more information, visit www.brenntag.com.
Verena Blaschke Brenntag SE Global Communications Messeallee 11 45131 Essen Telefon: +49 (201) 6496-1213 E-Mail: global.communications@brenntag.de www.brenntag.com